Man Group plc raised its stake in Baxter International Inc (NYSE:BAX) by 15.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 381,704 shares of the medical instruments supplier’s stock after acquiring an additional 50,988 shares during the period. Man Group plc’s holdings in Baxter International were worth $31,918,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BAX. Bank of Montreal Can grew its position in shares of Baxter International by 40.0% in the 4th quarter. Bank of Montreal Can now owns 2,296,345 shares of the medical instruments supplier’s stock valued at $192,020,000 after buying an additional 656,106 shares during the last quarter. Third Point LLC grew its position in shares of Baxter International by 3.9% in the 4th quarter. Third Point LLC now owns 17,500,000 shares of the medical instruments supplier’s stock valued at $1,463,350,000 after buying an additional 650,000 shares during the last quarter. State Street Corp grew its position in shares of Baxter International by 2.6% in the 3rd quarter. State Street Corp now owns 24,189,517 shares of the medical instruments supplier’s stock valued at $2,120,911,000 after buying an additional 620,579 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Baxter International in the 4th quarter valued at about $46,822,000. Finally, New York State Common Retirement Fund grew its position in shares of Baxter International by 43.3% in the 4th quarter. New York State Common Retirement Fund now owns 1,767,166 shares of the medical instruments supplier’s stock valued at $147,770,000 after buying an additional 534,256 shares during the last quarter. Hedge funds and other institutional investors own 83.10% of the company’s stock.
BAX stock opened at $73.57 on Thursday. The stock’s 50 day simple moving average is $85.94 and its 200 day simple moving average is $85.14. Baxter International Inc has a fifty-two week low of $69.10 and a fifty-two week high of $95.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.81 and a current ratio of 2.32. The company has a market cap of $37.49 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Tuesday, March 17th. The medical instruments supplier reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Baxter International had a return on equity of 22.41% and a net margin of 9.12%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the prior year, the business earned $0.80 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Equities analysts predict that Baxter International Inc will post 3.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, February 28th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, February 27th. Baxter International’s dividend payout ratio (DPR) is currently 26.59%.
A number of research firms have commented on BAX. TheStreet lowered Baxter International from a “b+” rating to a “c+” rating in a research report on Wednesday, March 18th. Cfra boosted their price objective on Baxter International from $87.00 to $93.00 and gave the company a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on Baxter International from $89.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. SVB Leerink reissued an “outperform” rating on shares of Baxter International in a research note on Tuesday, March 17th. Finally, Evercore ISI raised Baxter International from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $94.00 in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.16.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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